The Ottawa Senators‘ sale is reaching another pinnacle.
Sportico reported Thursday that the Senators have received bids from nine groups interested in purchasing the club, with some valuations going north of $900 million.
If the Senators were to sell for over $900 million, it would be the richest transaction in league history. Fenway Sports Group previously purchased the Pittsburgh Penguins for $900 million in 2021.
Prospective buyers have included a consortium led by Toronto-based real estate developer The Remington Group and actor Ryan Reynolds; billionaires Jeffrey and Michael Kimel; and investor Michael Andlauer. Bidders are expected to be narrowed in the coming days.
Ottawa is in the sale process after the death of owner Eugene Melnyk last year. Before Melnyk died, the Senators had begun looking at a new arena location to take the team from suburban Kanata, Ontario, into downtown Ottawa. In June, the club signed a memorandum of understanding for a new arena at the LeBreton Flats site.
Although it’s no guarantee that a new building will come to fruition, the agreement does boost Ottawa’s possible sale price for any new owner expected to explore an alternate venue.
While the NHL would like to have Ottawa’s sale completed by midsummer, there is no formal end date on the overall process.
Source: www.espn.com